DOW jones and the U.S. Market hitting new highs, but this new highs give a negative Divergence for the MACD and RSI of DOW Jones index, as well as S&P and Nasdaq. Meaning that there is a chance that the gains are only for the holiday season. Volume decreased also for the past weeks.
Time will tell if these Negative Divergence may extend to gains or means a correction for the Q1 of 2011.
PSE Market has been having a slowdown since its Early November peak moving up and down, but forming a good possible breakout.
The inverse Head and Shoulder pattern (if successful) tells us an upside of the 52week high of 44xx. Or will the Negative divergence signal of the U.S. market will decouple the break-away of our PSE market and negate the formed inverse H&S.
Good luck and Godbless for 2011 !
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